President Vladimir Putin is keen to build up BRICS - which has expanded to include Egypt, Ethiopia, Iran and the United Arab Emirates as well as Brazil, Russia, India, China and South Africa.
The economy was supported by gains in consumer and state spending and in investment in fixed assets, while exports fell.
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Steve Hanke bullish on gold while losing faith in Fed; China private demand having a noticeable effect on metals rally
Israel faces record emigration, with 40,600 leaving this year, numbers the country has never seen before.
Most people make big resolutions and fall off the wagon within a few days. The better approach is if we set a few small goals and keep to them.
Among considerations discussed when determining the interest rate was that inflation in Israel has been on an upward trend, in contrast to global trends, he said.
Ultra-Orthodox parties Shas, UTJ threaten: Without legislation to exempt most eligible haredi men from military service, we will not support budget.
The economic situation in Israel is becoming more and more complex. The cost of living continues to rise, which leads many Israelis to use loans to finance various needs in their lives.